Baby Boomers in Knoxville Tennessee

Wednesday, August 15th, 2012

Baby Boomers “the most valuable generation”

A new study out from Nielson calls baby boomers the “most valuable generation” because they will control 70 percent of the disposable income in the U.S. in the next five years.

There are currently 80 million boomers – those born between 1946 and 1964 – in the U.S. today and the number of Americans 50+ is projected to grow by 34 percent by 2030. That means that within 20 years, half of Americans will be over the age of 50.

Boomers are also driving the growth of social network- ing –their usage has doubled to 42 percent in the past year. Currently, Nielsen reports that 53 percent of boomers are on Facebook and they use business-related social sites like LinkedIn at a much higher rate than the average American consumer. Not surprisingly, the reason behind this (according to Nielsen) is that boomers use technology as a way to stay perpetually young.

Baby boomers make up about 25% of smartphone users with iPhones being the most popular within the demographic.

however…While 95 percent of voters age 50+ said Medicare was critical to maintaining senior health, only 41 percent of this group said they were somewhat or very confident that it would exist for them and future generations upon retirement.

And nearly HALF of the respon- dents have never shopped around to find out if there is a more suitable Medicare plan available to them. A recent survey by Accenture showed that 86% of respondents had limited or no knowledge of retirement products that life insurers offer.

Call Independent Insurance Consultants (or find us on Facebook 🙂 to find out how we can help you with your Medicare, Life Insurance and Retirement questions